Why Bitcoin Will Fail: 4 Reasons

By Charles Joseph | Editor, Financial Affairs

There’s a growing consensus amongst so-called financial experts that Bitcoin is not a sustainable investment and its price will eventually crash.

Unfortunately, the recent price collapse (from $69k to $19k) is giving credence to this belief.

Some of these folks believe that Bitcoin will go to zero because:

  1. It’s not backed by anything tangible.
  2. There’s no central authority that controls it so no one can guarantee its value.
  3. Its price is based purely on speculation.
  4. It’s very volatile.

They believe that Bitcoin is a bubble that will eventually burst. When this happens, the price of Bitcoin will plummet and it’ll become worthless.

2 Reasons Why Bitcoin Investors Should Care About Public Opinion

  1. Sentiment drives the market. Investing in Bitcoin can be controversial, and it’s helpful to know what other people think before making important financial decisions.
  2. To better understand the market. By understanding how other people feel about Bitcoin, investors can get a better sense of the market and where it’s likely going.

Want More Financial Tips?

Get Our Best Stuff First (for FREE)
We respect your privacy and you can unsubscribe anytime.

Famous people who believe Bitcoin will fail are:

  • Warren Buffett
  • Bill Gates
  • Peter Schiff

Why Bitcoin Is Going to Zero (Video)

More Financial Guides

Jeff Bezos (His Net Worth Is Surprising)

When Jeff Bezos first created Amazon, few could expect that within just a couple of decades, he would be a household name — and the second richest man...

History of Banking (from Babylon to Bitcoin)

It's hard to imagine what we would do without safe, secure places to store and manage our money — that is, what we would do without banks. But have...

Dave Ramsey’s 7 Baby Steps (for Financial Security)

Building a secure financial future is a daunting task, especially if you’re starting from scratch. That’s why personal finance guru Dave Ramsey...

Six-Figure Salary Secrets (What Does It Get You?)

For so many people, a six-figure salary embodies the American dream. You go to college, get a good job, buy a house and provide for your family with your...